NEW YORK, Feb. 12, 2013 /PRNewswire-iReach/ -- MyRedToy (https://myredtoy.com) is a reverse auction service that sets car dealerships on a bidding competition against one another to reveal the lowest possible prices, without the need for painful and time-consuming episodes at the showroom. With over 16,000 registered dealerships across the country, MyRedToy is among the largest car dealership networks in the United States.

MyRedToy works by inviting potential new car owners to notify dealerships (within 100 miles) of their intention to purchase a new vehicle. These dealers will be able to transparently study the offers that have already been made by their competitors, and table an attractive offer. Potential new car owners are provided with a complete report and price certificate when the auction ends. They are free to walk away with zero obligations, and at no cost, if no acceptable deal is found.

"The concept for MyRedToy was created because I was tired of the stressful and needlessly expensive visits to car dealerships when purchasing my last few cars," said Wonsang Cho, Founder and CEO of MyRedToy. "The tactics are always the same – they present you with a grand speech, sit you down for 3 hours, while pretending to get permission from the General Manager to give you the best ever deal that has never been offered before. MyRedToy puts the pressure back to the dealerships, and lets the consumer sit back and relax, while getting their new car at a great price."

Proprietary market research by MyRedToy found that new car buyers visited an average of 2.3 dealerships before making their final purchases. These add up to an estimated 6 hours of invested time commuting and listening to sales pitches. Together the growing trend of new car buyers using the Internet as a research resource, MyRedToy brings it one level higher by delivering accurate, transparent and binding best prices through the Internet, right into the living room.

MyRedToy is remarkably simple to use:

Select from a comprehensive list of car manufacturers and the options & packages on offer.

Dealers within 100 miles will be notified and requested for their best, out-of-door price.

Monitor the 72 hour auction on the website, and receive a report when the auction closes.

Print a MyRedToy price certificate and head down to the dealer to complete the purchase, OR walk away with zero obligations and at no cost.

MyRedToy goes live today. The latest developments and events will be announced on the website, as well as the MyRedToy Facebook page.

About MyRedToy

MyRedToy is a U.S. based service company that is dedicated to continuously improving the car buying experience for consumers. The company operates one of the largest car dealership networks in the US, and its proprietary online reverse auction platform serves as a valuable tool for new car buyers to gain access to accurate, transparent and lowest prices for new cars.MyRedToy continues to deliver unique solutions to car purchasing challenges through collaboration and innovation with dealers and consumers. For more information, visit https://www.myredtoy.com/.

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